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M&T Bank Corp Rises 1.41% on Heavy Volume: Watch For Potential Pullback

By David Diaz

M&T Bank Corp (NYSE:MTB) traded in a range yesterday that spanned from a low of $164.33 to a high of $167.87. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $165.76 on volume of 134,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of M&T Bank Corp have traded between a low of $154.33 and a high of $197.37 and are now at $167.61, which is 9% above that low price. The 200-day and 50-day moving averages have moved 0.2% lower and 0.44% lower over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in M&T Bank Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of M&T Bank Corp in search of a potential trend change.

Keywords: rebounders m&t bank corp

Ticker(s): MTB